GEOGRAPHICALLY Bangladesh is sandwiched by South Asia, East Asia and Southeast Asia and is located at the north of the Bay of Bengal. Bangladesh was one of the most important destinations of the Southern Silk Road and sea port, the country could be one of the link points of the Silk Road and Maritime Silk Road initiatives, as envisaged by China. To break the connectivity bottleneck, China is likely to contribute $40 billion to its new Silk Road fund designed to improve trade and transport links in Asia, President Xi Jinping said recently. When implemented, the lost civilizations in this territory will be revived, that will subsequently help Bangladesh to transform its geographical advantage into economic benefits. Thus, it is time to grab the opportunity of the Silk Road.
The “Economic Belt” is a network of highways, railways and other critical infrastructure linking China to Central and South Asia, the Mideast and Europe. The maritime route entails building or expanding ports and industrial parks in Asia, the Mideast, Africa and Europe. The proposed Silk Road fund will be used for providing investment and financing support to carry out infrastructure, resources, industrial cooperation, financial cooperation and other projects related to connectivity for countries along the “Belt and Road”.
The vision to build the “Belt and Road” will create chances for China and Bangladesh and we have to seize the chance to promote trade and connectivity. Experts have opined that China-led “Belt and Road” initiatives could help solve security problems in Asia. Despite many differences and disputes, China and almost all its neighbouring countries, put economic development as their foremost goal in their policy agenda. A simultaneous revival of the Silk Road in different forms would mean not only trade; it could also mean that nations with trade are always going to have a better relationship and peace will automatically come about, because the opportunity cost of war would be significant.
It is expected that the 2,000-year-old Silk Road can be revived and its modern version the maritime Silk Route as well can be developed and made more active and vibrant. Different from the ancient Silk Road, which mainly focused on trade, the “One Belt and One Road” could also include the flow of financial elements, information, technology and personnel.
The time is ripe for Asia for establishing political and economic cooperation amongst the regions and China is rightly pursuing the way. It will act as a catalyst for economic growth in China and the belt and road will certainly stimulate its neighbours. To make best use of the opportunity, we need preparation in every means, including developing human resources, technological advancement, standard education, governance and developed infrastructures.
